How has management theory advanced over the past hundred years

How has management theory advanced over the past hundred years Are the structures and ideas of management theorists of the past still analogous to the work done by modern managers of today? Management theorists of the past have labeled three clear categories to help define the job description of a manager. These are management functions, roles and skills, which were identified as being highly influential to the success of the manager, defined as someone whose primary responsibility is to carry out the management process. This essay looks at the work of three management theorists, Henri Fayol, Robert Katz and Henry Mintzberg and how their work compares to todays modern day managers. Henri Fayol, a French industrialist, believed that management could be taught and was therefore always looking on improving the quality of management. In 1916 he wrote the book administration industrielle et gà ©nà ©rale which presented his views on the proper management of organisations and the people within them. This is known as administrative management, which is a style of management that focuses on managing the total organisation. Fayol believed that there were five management functions in which a manager must employ on his business to achieve success. These five functions were planning, organising, commanding, co-ordination and controlling. This is the functional view of management as it is on a day-to-day level. It describes the functions that a manager must carry out on a daily basis, which Fayol realised when working as a successful managing director of a mining company. He saw there was a need for managers to be trained due to the increasing complexity and growth of orga nisations over the world. The Planning function looks at the managers ability to look ahead, taking into account the operating environment, forecasting what is possible and provide direction for the firms employees. Secondly the organising function is a key management function that is defined as the process of assigning tasks, allocating resources and arranging activities to implement plans. Managers have to group and deploy resources, either human resources such as employees or equipment resources such as machines, in the best possible way to achieve the goals of the organisation. Thirdly Fayol identified was for a manager to command, which is to lead, select and evaluate to get the best work towards the plan. Managers are required to do these tasks as it helps them to achieve the task that they had planned. The fourth function Henri Fayol identified was coordination, which is to fit diverse efforts together and ensure information is shared and problems are solved. Finally, Fayol i dentified the fifth aspect of management functions as controlling, which is the process of measuring performance and taking action to ensure desired results. The manager has to ensure that the functions of planning, leading and organising take place in such a way hat they are controlled through timely, accurate and valid feedback based on a transparent measurement strategy. Fayols management functions are focused on the key relationships between a businesses personnel and its management. Harvard Scholar Robert Katz classified three essential skills for managers of a firm, technical skills, human skills and conceptual skills. Technical skills is the ability to use a special proficiency or expertise in you work, for example skills learnt through a formal education such as University or TAFE and then further development through on the job training. These skills are very important in low-level management where the manager is still hands on in the business. Human Skills is the ability to work well in cooperation with other people, this is highly important at all levels of management as it shows a spirit of trust, enthusiasm and involvement in interpersonal relationships. An important concept of human skills is emotional intelligence, which is the ability to manage ourselves and our relationships effectively which Katz identified as influential to a firms success due to the high interpersonal nature of business. Finally, there are Conceptual skills, which is the ability t o think analytically and solve complex problems. Katz identified this skill as part of the three essential skills of managers as all good managers have the ability to view situations broadly and to solve problems to the benefit of everyone else. Managers with conceptual skills have the ability to break down problems into smaller parts, which is important for top level managers but is relatively unimportant for low lever managers. Katzs three essential skills of management are a requirement for business that want to be success in modern day society. Management theorist Henry Mintzberg in his book the nature of managerial work (Mintzberg, H 1973, The nature of management, New York) written in 1973 offers an observation of corporate chief executives. He says there was no break in the pace of activity during office hours. The mailà ¢Ã¢â€š ¬Ã‚ ¦ telephone callsà ¢Ã¢â€š ¬Ã‚ ¦ and meetingsà ¢Ã¢â€š ¬Ã‚ ¦ accounted for almost every minute from the moment these executives entered their offices in the morning until they departed in the evenings (Mintzberg, H 1973, The nature of management, New York). In todays modern era of technology this would add email to the list of preoccupations a manager deals with on a daily basis. Mintzberg had realised the importance of how a manager uses his controlling powers and he recognised three important managerial roles in which a manager must successfully perform in order for the manager to be able to run the business at its most efficient level. The three roles in which Mintzberg recognized were int erpersonal, informational and decisional roles which can be further split into ten more specific roles. Interpersonal roles are how a manager interacts with other people, both within the business like employees and external to the firm like customers. Interpersonal roles for managers can be further separated into whether the manager is a figurehead, leader or liason in the firm. Informational roles are how a manager exchanges and processes information which the managers role is then to either monitor, disseminator and spokesperson for the firm. Finally, decisional roles which is how a manager uses information in decision making and the managers role is then to be an entrepreneur, disturbance handler, resource allocator or negotiator depending on the scenarios at hand for the manager. The roles of management are all interconnected and all managers must be prepared to perform the in order to see the best from their business. These management theorists however wrote their management functions, roles and skills in the 20th century, so are they still relevant in our 21st century business environment? An internal endeavor made by Google, the worlds largest search engine, looked at what the eight most important traits for a manager to have to be successful. The use of the article 8 traits of stellar managers, defined by googlers, written by Judith Aquino helps to link the management theories of Henri Fayol, Robert Katz and Henry Mintzberg to modern day managers of the 21st century. The article, written on the 15 of March 2011, brings a modern day link to the management theorists of the 20th century. The importance of managers having technical skills in the workplace is seen by its inclusion in the 8 traits of stellar management. It is important for managers to have these skills as they then have the ability to understand the different challenges and help their employees solve the problems that they are facing. This important trait for managers is linked to Robert Katzs management skills. Katz believed that one of his three essential skills for managers were that they had technical skills. This is seen as an important trait for managers of the 21st century as employees want to be managed by someone who knows what they are doing and is able to give them advice on how to solve the various problems that they are likely to face in the day to day life of the business. With the survey showing that Katzs technical skills are still an important trait which is admired in the business workplace makes me wonder whether the three management theorists, Robert Katz, Henri Fayol and Henry Mintz bergs work is still relevant in a 21st century business context. Former CEO of General Electric, Jack Welch said good business leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it in competition. Google employees have recognised the importance of the business and its manager having a clearly outlined vision and a strategy for the employees. The manager is required to lead the employees by keeping all staff involved and working towards the teams common goals and business vision. When looking at the management theorists of the 20th century we can see that they all have their opinions on a businesses vision and strategy. Henry Mintzbergs leadership principle is related to the ways in which the firm looks to achieve its vision. Without a manager who is willing to lead his employees they will lack direction in their work, increasing the chance of mistakes being made by misled employees or the firm moving away from its corporate vision. Henri Fayols planning function is also related more to the firms busi ness strategy than the vision as it looks at how the business will enter its business strategy into the business environment to help reach its vision. These two theories are still relevant in todays business environment as shown by their relevance to a managers ability to have a clear vision and strategy. Career development is an important aspect of a managers roles when running the business as employees want to feel like their efforts are being noticed and that their hard work is furthering their careers. A good manager is a man who isnt worried about his own career but rather the careers of those who work for him. Managers should make it known to their employees that they are a valued member of the business and that the work the employees do for the firm will pay of with promotions and pay rises in the future. Helping employees is linked to the management theories of Mintzberg and Fayol as it is both a role and a function that the manager must undertake in order to successfully manager their employees. The fifth most important trait recognised by Google employees was the ability for their managers tot be good communicators and willing to listen to ideas from all employees. It is important for managers to listen to others as well as sharing their opinion as then the opinions and concerns of your employees are heard and can be looked at more closely by the manager. Henri Fayols commanding function shows the importance of being a good communicator and listener for managers as the function requires them to lead, select and evaluate the workers to get the best out of them. This function recognises the importance of employees ideas in the success of the business and the manager therefore needs to evaluate proposed ideas to get the best from the team. American businessman Lee Iacocca said on communication you can have brilliant ideas, but if you cant get them across, your ideas wont get you anywhere (Croce and Lyon 2004, p.69). Henry Mintzbergs interpersonal roles are the managers respons ibility when dealing with employees and their ideas. Robert Katz provides two management skills on the communication with employees and their ideas. Google recognising the importance of communication in the organisation as one of the three essential skills a manager must have to be successful shows Katzs theory of interpersonal skills. Katz also provides a more precise skill in which managers should have, this being communication skills, defined as the ability both to convey ideas and information to others effectively and to be receptive to ideas and information from others. This skill that Katz states as being important to managerial success is what Google employees hold in high regard from their managers as shown by its inclusion in the 8 traits of a stellar manager. Henry Mintzbergs informational roles, which is the processing of information, is recognised in Googles survey where they admire managers who are productive and results orientated. Mintzbergs informational role accepts the need for managers to focus on helping the team achieve its goals by prioritizing work and removing obstacles. Robert Katzs decision-making skills, defined as the ability to recognise and define problems and opportunities correctly then to select an appropriate course of action to solve problems and capatilise on opportunities, shows that his theory looks at how the business can be more productive and achieve their results through eliminating any problems and taking advantage of any opportunities the firm may encounter. Employees feeling that they belong as an important part of the business success is one of the key tasks a manager must undertake when running the firm. Ensuring that new employees feel welcome and get to know your employees. Robert Katzs interpersonal skills are linked to this trait recognised by Google employees as it involves the relationships between employees and managers, both working and outside of work relationships, to make the employee feel a part of the team. Henri Fayols Controlling function is also interrelated with taking interest in your team members success and well-being as managers need to make sure everything happens according to plan, with corrective action in place. Fayol however has a more minor point in the controlling function, which is feedback, and this shows the employees that their input is important and taken into consideration when they offer ideas to the managers of the firm. At number two, Google employees decided that a managers ability to empower your employees and to not micromanage was a trait that they respected in their managers. Giving employees the space to tackle problems on their own but still be there for advice is something that employees admired as it provides them with a feeling of responsibility and importance in the firm. Katzs time management skills is important when not micro-managing as the ability for the manager to delegate work to his staff and then empower them to complete these on their own. Mintzbergs decisional role is also important for managers as it involves how they allocate their resources (employees) to job certain jobs that are required. Finally Fayols Organising function is important as the manager is required to provide and mobalise resources, which can be human resources such as employees, to implement the plan. The most important trait in stellar managers defined by a survey done by Google says that being a good coach is what they admire most in a manager. A manager who can provide specific feedback through regular one-on-one meetings with employees, as well as offering solutions that are tailored to each employees strengths. John Wooden said, make sure that team members know they are working with you, not for you. Relationships are the best way for employees to feel as though they are on an equal level to manager, which is therefore why Henry Mintzbergs interpersonal roles theory is highly important to becoming a successful manager. Robert Katzs interpersonal skills are also applicable to being a good coach, as they are required to communicate with, understand and motivate both individuals and groups. These two management theories along with communication skills are the most influential management theories in being a good coach to their employees. The work of management theorists of the past is still admired and applicable to modern managers in the 21st century. Googles survey shows a list of the most important traits seen in a manager in the 21st century, and I have shown that there are many links that can be drawn between the work of management theorists Robert Katz, Henry Mintzberg and Henri Fayol and modern day managers of the 21st century.

Similarities Between Terrorism and Organized Crime:

Similarities between terrorism and organized crime: Today’s terrorism and organized crime groups are so similar that their differences are starting to blur and the commonalities are becoming clearer. Terrorism and organized crime is a perfect match, that may have different objectives, but they can accomplish their goals through one another. The underground network, tactics they share and utilize to accomplish a task in support of one another, recruiting methods, financial institutions, and the effects of globalization and technology are the main similarities.In today’s world one does not survive without the other. Dictionary. com defines terrorism as, â€Å"The use of violence and threats to intimidate or coerce, especially for political purposes; the state of fear and submission produced by terrorism or terrorization; and a terroristic method of governing or of resisting a government. † Terrorism has been around since the 1st Century AD. Many civilizations have used terrorists tactics on a weakened state or a state they which to overthrow. One of the first uses of modern terrorism was Maxmilien Robespierre.After the French Revolution, Robespierre was a dictator that used terrorism to remain in control. He stated that, â€Å"Subdue by terror the enemies of liberty, and you will be right, as founders of the Republic. † In the late 1960s, International Terrorism took the world over with hijacking. Of recent most terrorism is based on an ideology and religion. The ideology of the different terrorists groups may differ from religion, politics, animals, the planet, to many different reasons. However they use fear to accomplish a goal.Many different law enforcement organizations have different definitions of terrorism, but they all describe using terror/fear, usually against non-combatants, in order to further their cause. They are organized to ensure if one is caught or killed, the ideal can continue on and not be compromised. They protec t the organization with cells and are given only pertinent and applicable information to each cell. Legaldictionary. com defines organized crime as, â€Å"A widespread group of professional criminals who rely on illegal activities as a way of live and whose activities are coordinated and controlled through some form of entralized syndicate. † The traditional organized crime groups were developed in Sicily by individuals who wanted to control a community. These individuals were looking to become rich through corruption and fear. Organized crime moved to the United States during immigration and the repression of organized crime in Southern Europe during the early 1900s. Organized criminals sought in opportunity in the United States. Many immigrants came to America seeking the â€Å"American Dream†, but those dreams turned to nightmares. The easiest and fastest way to get the American Dream was through the â€Å"Mafia†.The mafia sought two things and two things onl y, money and power. The mafia quickly grew in size; because like prison you either stuck with your kind or found yourself face down in the street. The mafia gave protection and supported your family. With a weakened state in the new United States economy, politicians and law enforcement were easily bought out. They organized themselves so that the Boss spoke and everyone listened; however unless you were a CPT or high ranking individual, you rarely ever heard it directly from the head honcho.They protected the boss, by limited exposure and just in case the police wasn’t on their payroll they could never tie it to him. The families used mainly two different methods to control a community. They either used fear or kindness. Many communities protected organized crime families. They were the protection to the community and supported the community with jobs and money. The old adage goes, â€Å"Don’t bite the hand that feeds you. † However if you challenged them, you were usually met with a swift and gruesome punishment.Examples were made not to challenge the family. Many times in the news it is hard to remember which organization is a terrorist’s organization and which is an organized crime. Their tactics are so similar and their ideology is becoming so indifferent. Terrorist will sometimes conduct attacks such as kidnapping, bank robberies, smuggling of contraband, and other illegal activities only for capital gain to further their cause. This is no different than organized crime to gain more money for power. Many times these activities find these two organizations in cohorts.Underground networks have become the preferred method of any illegal organization. Organized criminals have street credentials that a normal criminal cannot gain due to its size, trust, and reliability. Organized criminals have spent centuries developing underground networks in order to traffic contraband throughout the world. â€Å"The FBI estimates that the unde rground economy produces $500 billion per year. An underground economy requires secret institutions, and terrorists have found various enterprises for hiding money,† (Terrorism & Homeland Security, 7th edition; Jonathan R. White; 2012).Underground networks are not only used for smuggling money, drugs, or weapons, but people as well. The organized crime organizations are able to provide clean papers to terrorists in order for them to move from city to city undetected. These underground networks are used so widely now that if the terrorist organization were to crumble, the terrorists of the world would have to focus on their immediate area because they would have no way of moving people, weapons, or money. As part of the underground network both organizations are tied to one another through many capital gaining ventures.In Afghanistan the drugs are used to sell to organized crime for distribution. The terrorists will grow, protect, and even traffic the drugs for a substantial am ount. The money gained from organized crime is then funneled into their cause. Reports have also shown that Al-Qaeda is working with drug lords in Mexico, which help them, sneak into the United States. Who better then Mexican drug lords to help terrorists into the United States? One of the most profitable ventures in human smuggling is the human sex slave trade.Terrorist’s organizations will capture women from foe tribes and other places and then they are sold to organized crimes using the underground network to sell them and smuggle them. Terrorists and organized crime are so similar in their tactics that at times it seems as if there is a school that both organizations send their recruits to. The first tactic is kindness to their community. The concept is to protect the community and hopefully in return you are shown loyalty. Provide money, jobs, and a safe haven to the locals and when law enforcement omes around no one is willing to talk to them. When this tactic doesnâ₠¬â„¢t work they turn to fear. If anyone in the community speaks out against the organization or talks to law enforcement they are made an example of and most of the time the person is killed in the most gruesome manner to show the others that they should never talk to law enforcement. Both organizations use bombs, burning bodies, decapitation, killing of the whole family and friends, and torture. To be in an organization, the two main ways are to be either born into it or recruited.Many times the family members or terrorists are born and raised into an organization. From toddler they are taught to hate a certain kind of person, hate a religion or government, and to want all the power and money in the world. Both organizations look to recruit people, because without recruiting the organizations could not survive. They look for easily controlled and people with little to no existence. The potential recruits are usually people that can easily conform to their way of life and standard, no family ties, and need something to believe in.The organizations offer them something they have never had before such as; love, commitment, loyalty, something to believe in, and a purpose. In order to complete their tasks, it takes a lot of money. Both organizations launder their money through one another and legitimate and legal businesses. Three weeks ago, three used car dealerships were closed down and the owners were arrested for funneling money through the dealership for terrorists. The easiest thing to do with illegal money is to turn it right back around through a legal front. Through the underground network, both organizations have what is kind of like a line of credit.It is very similar to wire transfer or they are given credit wherever they are. For example, when drugs are sold to a criminal organization in Afghanistan, the money may not be received right away or it may be received in another country. This type of financial institution takes years to build and trust. The ability to communicate and globalize has increased the effectiveness of the terrorists and the profit of the criminal organizations. Both organizations are using technology to easily communicate on different continents and work together.Technology has benefited terrorists by giving them another avenue for an attack. Cyber terrorism is one of the biggest threats today. Events like September 11th, have globalized terrorism and made terrorism the number one objective of most countries. â€Å"The Age of Globalization has created the conditions allowing terrorists and organized crime groups to join forces. Such as the FARC in Columbia,† (Dangerous Alliance: Terrorism and Organized Crime, Ron Chepesiuk, 2007) Due to the emergent link between terrorism and organized crime the War on Terrorism has developed into a world effort.Terrorism and organized crime are two entities that are heavily sought by law enforcement, so in order to stay one step ahead working together is a benefit fo r both. If the terrorist assist in moving drugs through their territory, they can continue building bombs with the money earned. If organized crime can learn new tactics from terrorism they can control their own lands and people more efficiently. In the world of technology and world policing the similarities and unity between the organizations keeps them both in business.

What is Truly Going on with Essay Titles Samples

What is Truly Going on with Essay Titles Samples The fundamental structure of an informative essay is extremely easy. Most of us have written an essay. To begin with, you want to concentrate on what sort of essay you will write. Reading your essay out loud can help you notice areas wherever your writing could possibly be unclear or awkwardly worded. Catchy essay title arrests the interest of readers It is among the prerequisites in rubrics, and GED essays, to put it differently, ability to pick a god essay topic can make a student additional marks. When you have finished with your composition, it is rather important you take a minute and read over what you have written. If appropriate and relevant to the discipline, even part of song lyric can serve exactly the same purpose. In creative assignments, it's possible to apply a very long song lyric. Let's say that you're writing an essay on The big causes of Road Accidents in your City, it's obvious you're going to think of two or three points. No one wants a fantastic story that's written with a lot of mistakes that completely break the entire flow. Write three or more titles for each guide and think which one is going to intrigue your readers the most. In fact, the majority of authors never begin with the title. In that case, your essay requires a title. An official ess ay demands a certain kind of title, though a poem or short story can handle more imaginative titles. You'll have an excellent title which makes perfect sense in no moment. It's simple to use, has many features, and is an enjoyable means of developing a title. You will receive an incredible title you can tweak and employ for your own use. Your title ought to be compelling enough to produce the audience eventually read the entire paper. The Importance of Essay Titles Samples For instance, if you're writing an essay on How Global Warming can be decreased, it's going to be a fantastic idea you take a minute to define what global warming is about in your introductory paragraph. Questions will often target answers that address that type of certainty. Nowadays, it's better to compose the answers rather than asking the questions. To be a renowned writer, you need to have a rich vocabulary with words which make people live through your feelings. A study performed by the National Alliance of Mental Illness in 2011 proved that those who feel socially-isolated are at heightened risk of suicide. In the same way, you need to focus on creating catchy titles due to the fact that they contain the powerful words which naturally turn on the feeling of readers. Permit the children read the word and find out how the word is sounded out. A History of Essay Titles Samples Refuted There is generally a selection of titles, but it's important to look at the sort of topics that have come up in the tests for each school previously. They are important because they have a unique ability to grab the attention of the viewers. Superior titles offer you potential readers the reason behind reading the essay in the very first spot. Story titles, on the flip side, can be a bit vaguer to peak reader interest. While it isn't hard to presume that the text itself is the sole thing that matters, to find positive feedback and a great grade, every portion of your paper plays an important function. If your school isn't one already, learn to develop into an IB World School to be able to implement the DP. Remember that you may discover professional academic writing company to get a customized paper on the internet with the read title. It is also crucial for students as soon as it comes to English Language examinations.

Financial Statement Analysis of Hersheys Limited 2009-2015

ABSTRACT The Hersheys Company, later referred to as HSY, is the largest producer of quality chocolate in North America and a global leader in chocolate and sugar confectionery founded by Milton Hershey in 1894. Hersheys is a public trading company and have filed their annual returns as a public trading company in the United States Securities under Form 10-K. In this paper, we will use the financial data in the Audited Financial Statement to compute the key financial ratios as an indicator for the Hersheys company in the global financial scale. Through calculations of the profitability, liquidity, stability and shareholders interest; the five year trends from 2009 to 2013 will be analysed in both an internal and external†¦show more content†¦Hershey. Founder by Milton S. Hershey, he grew the company to the largest chocolate manufacturer in North America which produces chocolate and sugar confectionery products. Its principal product groups include chocolate and confectionery products, gum toppings and beverages. It is engaged in manufacturing, marketing, selling and distributing various package types of chocolate and sugar confectionery products under more than 80 brand names. Hersheys Market Share is represented as 31.1% in the confectionary market share as shown in the Figure 1 below:- Figure 1: Confectionary Market Share (NAISC, 2014) Hersheys competes in an oligopoly market which is a market is run by a small number of firms that together control the majority of the market share. As global leader in sugar confectionary with US $16.05 billion market capitalization (43% share of the domestic chocolate market), the company now sells its products in 70 countries within North America, Asia, Europe, Middle East, and Africa. Some of Hersheys competitors on a global scale include Cadbury, Nestle, Mars, as shown in Figure 2 below: Figure 2: Global Market Share for the Confectionary Market 2009 (Reuters, 2009) HSY is subject to many factors that may affect their financial performance including fluctuations in theShow MoreRelatedFamous Amos12788 Words   |  52 Pagesits political conditions are slightly instable due to the ongoing process of reformation and its legal structure is still developing. An analysis on competition level in Shanghai revealed that its main competitors will be Kraft, Mars and Cadbury. Besides that, Famous Amos also faces a threat from Hershey’s should it enters the market. The SWOT analysis was also included to highlight the strength and weaknesses of the brand along with the opportunities and threats poses by the external environmentRead MoreAccounting 1-4 Chapter100452 Words   |  402 Pageschapter 1 INTRODUCTION TO FINANCIAL STATEMENTS ââ€"  the navigator ââ€"  ââ€"  ââ€"  ââ€"  âÅ"“ Scan Study Objectives Read Feature Story Scan Preview Read Text and Answer Do it! p. 5 p. 11 p. 18 p. 20 Work Using the Decision Toolkit Review Summary of Study Objectives Work Comprehensive Do it! p. 23 Answer Self-Test Questions Complete Assignments Go to WileyPLUS for practice and tutorials Read A Look at IFRS p. 42 study objectives After studying this chapter, you should be able to: 1 Describe the primaryRead MoreComparative Analysis of Different Brands14052 Words   |  57 PagesPROJECT REPORT COMPARTIVE ANALYSIS OF DIFFERENT BRANDS OF FMCG INDUSTRY MASTER OF BUSINESS ADMINISTRATION (MBA) OF PUNJAB TECHNICAL UNIVERSITY (PTU) Submitted to Submitted by Mrs. Gitanjali Bhatnagar Vipan Kumar DR. IT Group of Institutes BANUR (PUNJAB) PREFACE Practical exposure imbibes an integral part of management studies. One cannot rely merely upon the theoretical knowledgeRead MoreSolutions: Income Statement and Pearson Education121412 Words   |  486 PagesThe Corporation Introduction to Financial Statement Analysis Arbitrage and Financial Decision Making The Time Value of Money Interest Rates Investment Decision Rules Fundamentals of Capital Budgeting Valuing Bonds Valuing Stocks Capital Markets and the Pricing of Risk Optimal Portfolio Choice and the Capital Asset Pricing Model Estimating the Cost of Capital Investor Behavior and Capital Market Efficiency Capital Structure in a Perfect Market Debt and Taxes Financial Distress, Managerial Incentives